YOU ARE HERE: LAT HomeCollectionsHome Equity

Home Equity

September 11, 2011 | Liz Weston, Money Talk
Dear Liz: I was laid off in November 2009. For the first year, I took the unemployment and tried to find a job without success. So, in late 2010, I started my own business, contracting mainly for employers for whom I used to work. Unfortunately, I am making about a third of what I used to make, and even after cutting expenses, there are months that I can't pay my bills. I have taken two withdrawals from my self-directed IRA this year. Is that the smartest thing to do? Or should I even out my cash flow by writing myself loans from my home equity line of credit?
December 18, 2011 | Liz Weston, Money Talk
Dear Liz: We are getting coaching from a finance advisor. He suggests using a home equity line of credit as investment capital. Your opinion on this? Answer: You're not dealing with a financial advisor who has your best interests at heart. You're dealing with a salesman who is mostly, if not solely, concerned about the commission he's going to earn from selling you an insurance or investment product should you take his unsound advice. Borrowing to invest is a risky strategy.
August 19, 2012 | Liz Weston, Money Talk
Dear Liz: I co-signed some private student loans for my youngest child. She graduated two years ago with about $80,000 in student debt, including federal and private loans. Like many other recent graduates, she has had a difficult time finding a job. She worked part time at a retail store until about a month ago and made around $7,000 annually. I have been helping her make reduced payments and she has gotten deferments and income-based repayment plans. But I'm planning to retire in a few months and won't be able to make the payments as I have been.
September 25, 2011 | By Ann Marsh
Like a lot of middle-aged people these days, Nancy Lomen, 50, is thinking about retraining for a new career. What the San Gabriel resident and her husband, Bill, 64, are trying to figure out is whether a $60,000 investment in Nancy's education is a smart bet at their ages. They have two children, one in college and another who will be in college next year, and little in the way of retirement savings. "I've been thinking and dreaming about becoming a registered nurse midwife for a good 10 years," Nancy said.
March 1, 2008 | From Times Wire Services
JPMorgan Chase & Co. said in a regulatory filing that it expected about $450 million in home equity loan losses for the first quarter, and that home equity losses could be double that by the fourth quarter. The filing elaborated on information given to investors during JPMorgan's Investor Day on Wednesday, when bank executives said they expected loan charge-offs to increase sharply in 2008.
January 18, 2013 | By Dawn C. Chmielewski
A breach-of-contract suit filed against comedian Adam Carolla by three former business associates suggests that the new media world may not be all that different from old Hollywood. Producer Donny Misraje -- who claims to have persuaded the radio and television personality and longtime friend to use podcasts to reach his listeners -- filed suit against Carolla on Thursday in Superior Court in Los Angeles.  Misraje is joined in the suit by his wife, Kathee Schneider-Misraje, a creative director, and Sandy Ganz, who helped rebuild and maintain websites for the company's podcasts and co-hosted a show, "CarCast," with Carolla.  The trio allege Carolla failed to distribute their share of the profits in the podcasting business -- or even provide an accurate accounting of the books -- in violation of an oral partnership agreement.
August 20, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Hard economic times have helped push millions of Americans deeply into debt, plunging many into a dark world filled with relentless collection agents, aggressive lawyers and companies that profit mightily if they can get people to pay up. Aided by outdated laws and lax oversight, debt collection has become a $12-billion-a-year business as people increasingly have fallen behind on their bills for credit cards, student loans, hospital stays...
June 29, 2002
Sound financial advice doesn't change much from year to year. Bad money management ideas, however, seem to flourish and grow with each passing season. "Ultimately it's up to you to resist bad advice and protect your own financial future," says CNBC on MSN Money, personal-finance columnist Liz Pulliam Weston. Weston has outlined three of today's most common money moves often considered to be sound financial advice, that can actually end up putting consumers even further in debt: Use a home equity loan to pay off credit-card debt?
Los Angeles Times Articles